| Page | ||
|---|---|---|
| Annual Report ofthe Trustees |
1-6 | |
| Independent Auditor's |
Report | 7-8 |
| Statement of Financial |
Activities | |
| Balance Sheet | 10 | |
| Cash Flow Statement | ||
| Notes to the Financial | Statements | 12-20 |
| Page | Unrestricted | Unrestricted | Funds | |
|---|---|---|---|---|
| 2020f | 2019 f |
|||
| Income and endowments from: |
||||
| Donations and legacies (note 2) |
14 | 1,579,683 | 1,994,937 | |
| Investment income (note 4) |
15 | 1,942,570 | 2,769,644 | |
| Other | 3,425 | 12,466 | ||
| Total income | 3,525,678 | 4,777,047 | ||
| Expenditure on: |
||||
| Cost of raising funds (note 8) | 16 | 375,306 | 352,751 | |
| Charitable activities (note 10) |
17-19 | 7,050,019 | 5,228,069 | |
| Other | 75 | |||
| Total expenditure | 7,425,325 | 5,580,895 | ||
| Net gains on investments (note 3) |
14 | 17,770,791 | 15,957,219 | |
| Net Income | 13,871,144 | 15,153,371 | ||
| Other recognised (losses)/gains |
||||
| Losses on foreign currency transactions | (160,592) | (100,015) | ||
| Net movement in Funds |
13,710,552 | 15,053,356 | ||
| Total funds brought forward at 1 January 2020 |
128,475,644 | 113,422,288 | ||
| Total funds carried forward at 31December 2020 | f142,186,196 | f128,475,644 |
| Page | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| E | ||||||
| Fixed Assets | ||||||
| Investments and cash under management |
(note 3) | 14 | 141,183,246 | 126,327,816 | ||
| Current Assets | ||||||
| Debtors (note 5) | 15 | 806,255 | 31,543 | |||
| Cash at bank (note | 6) | 15 | 9,942,858 | 7,562,970 | ||
| 10,749,113 | 7,594,513 | |||||
| Creditors - Amounts | falling due | within one | year (note 7) | 16 | (4,030,514) | (1,880,410) |
| Net Current Assets | 6,718,599 | 5,714,103 | ||||
| Creditors - Amounts | falling due | more than | one year (note 7) | 16 | (5,715,649) | (3,566,275) |
| Total Net Assets | 8142,186,196 | 8128,475,644 | ||||
| Represented by |
||||||
| Unrestricted Funds |
—Capital | Fund | 6142,186,196 | E128,475,644 | ||
| Approved by the Board ofTrustees and |
||||||
| Signed on their behalf by: | ||||||
| Christopher Jan Andrew ' s |
....2021 |
| Page | 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|
| E | ||||||||
| Net Cash flow from Operating Activities |
||||||||
| Net incoming resources before |
gains | 13,710,552 | 15,053,356 | |||||
| Less investment income |
(1,918,109) | (2,676,211) | ||||||
| Less deposit interest | (27,886) | (105,899) | ||||||
| (Increase)/decrease in debtors |
(774,712) | 360 | ||||||
| Increase in creditors |
4,299,478 | 2,869,088 | ||||||
| Net gain on investment assets |
(17,770,791) | (15,957,219) | ||||||
| Net loss on foreign exchange | 160,592 | 100,015 | ||||||
| Net cash outflow from operating activities |
(2,320,876) | (716,510) | ||||||
| Returns on investments and |
servicing offinance | |||||||
| Investment income |
1,918,109 | 2,676,211 | ||||||
| Deposit interest | 27,886 | 105,899 | ||||||
| Capital expenditure and financial |
investments | |||||||
| Purchase of investments | (41,845,945) | (20,817,308) | ||||||
| Proceeds from sale of investments | 43,687,629 | 17,866,010 | ||||||
| Increase/(Decrease) in cash |
in the | period | E 1,466,803 | 8 | (885,698) | |||
| Reconciliation ofnet cash flow to |
movement | in net funds | ||||||
| Net cash resources at 1 January 2020 | 13,256,953 | 14,242,666 | ||||||
| Increase/(decrease) in cash |
1,466,803 | (885,698) | ||||||
| Foreign exchange movements |
(160,592) | (100,015) | ||||||
| Cash and Cash Equivalents | at 31 | December | 2020 | f14,563,164 | f13,256,953 | |||
| Cash and Cash Equivalents | Consists | of: | ||||||
| Cash at bank and in hand (note 6) |
15 | 9,942,858 | 7,562,970 | |||||
| Cash held with investments managers |
(note 3) | 14 | 4,620,306 | 5,693,983 | ||||
| Cash and Cash Equivalents | at 31 | December | 2020 | f14,563,164 | 813,256,953 |
| discount and a higher |
liability value b | eing presented | as a liability in |
these financi | a | l statements. | ||
|---|---|---|---|---|---|---|---|---|
| 2. DONATIONS AND LEGACIES |
||||||||
| F1,579,683 was received in the |
year ended 31 December 2020 (2019 - 61,994,937)from | the Estates of | the | |||||
| original Founders of the Jordan |
Charitable Foundation. Additional receipts |
in the region | off20 million | are | ||||
| anticipated to be received during 2021 but at this stage the amount cannot be confirmed |
with certainty. | |||||||
| 3. FIXEDASSETS |
||||||||
| Investments and cash under management at 31 December 2020 |
||||||||
| Baillie | Oldfield | Payden | ||||||
| Bessemer | Gifford | Partners LLP |
&Rygel | Total | ||||
| E | E | 6 | 8 | 6 | ||||
| Investments | ||||||||
| Market value at 31 December 2019 | 49,958,547 | 41,638,078 | 20,702,488 | 8,334,720 | 120,633,833 | |||
| Additions at cost | 19,465,992 | 8,618,837 | 21,116 | 13,740,000 | 41,845,945 | |||
| Disposals at carrying value |
(19,109,363) | (7,835,048) (16,743,218) | - | (43,687,629) | ||||
| 50,315,176 | 42,421,867 | 3,980,386 | 22,074,720 | 118,792,149 | ||||
| Realised (loss)/gain on disposals |
(46,135) | 381,237 | (3,980,386) | (3,645,284) | ||||
| Unrealised gain on revaluation |
4,049,290 | 17,084,341 | 282,444 | 21,416,075 | ||||
| Net gain/(loss) on investments |
4,003,155 | 17,465,578 | (3,980,386) | 282,444 | 17,770,791 | |||
| Market value at 31 December 2020 | 54,318,331 | 59,887,445 | 22,357,164 | 136,562,940 | ||||
| Cash | 1,522,534 | 3,097,772 | 4,620,306 | |||||
| Total value 31 December 2020 | f55,840,865f 62,985,217 | f | - 6 | 22,357,164 | 8141,183,246 | |||
| Total value 31 December 2019 | F 51,459,383 K45,831,225 | f | 20,702,488 F. | 8,334,720 | 8126,327,816 |
| GRANT COMMITMENTS (continued) | GRANT COMMITMENTS (continued) | GRANT COMMITMENTS (continued) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At 31 December 2020, the charity had | the | following | contingent | liabilities: | ||||||||||
| Herefordshire RDA - the trustees |
agreed | to support | the construction ofa |
new | equestrian | centre up to | the | |||||||
| value ofE1,000,000, but this is dependent | on the charity identifying a suitable site in and around the Hereford |
|||||||||||||
| area. At the 31 December 2020, drawdowns |
totalling | E56,693 have been made | against the commitment | in | ||||||||||
| relation to professional fees to locate | a suitable | site, | the balance ofE943,307remains contingent. |
|||||||||||
| Helmsdale 8 District Development |
Trust | —the | trustees | have committed |
E249,000 | to | support | the | ||||||
| redevelopment ofderelict tennis courts |
in Helmsdale | into a multi-use games |
area, but this was dependent | on | ||||||||||
| the charity raising a further E.166,000 the Helmsdale 8 District Development |
ofthe total funds Trust confirmed |
they require forthe project ofE415,000. In April 2021, that they had achieved the matched funding, as the |
||||||||||||
| timing ofthe grants are still uncertain, | the | award | remains contingent . |
|||||||||||
| CHARITABLE ACTIVITIES | Registered | |||||||||||||
| Charity No. |
2020 | 2019 | ||||||||||||
| UNITED KINGDOM | E | E | ||||||||||||
| Age UK Hereford and Localities |
1093512 | 10,000 | 10,000 | |||||||||||
| Angling Trust |
5,000 | 5,000 | ||||||||||||
| Atlantic Salmon Trust | 252742 | 5,000 | 5,000 | |||||||||||
| Borana Conservancy Ltd - Borana |
Rangelands | School | 22,026 | |||||||||||
| British Disabled Angling Association |
1074729 | 10,000 | 10,000 | |||||||||||
| County Air Ambulance Trust |
1057063 | 20,000 | 20,000 | |||||||||||
| Hards Federation | 340,000 | 1,500,000 | ||||||||||||
| Herefordshire Growing Point |
1006625 | 5,000 | 5,000 | |||||||||||
| Herefordshire Headway |
1092578 | 100,000 | 10,000 | |||||||||||
| Herefordshire RDA |
1100675 | 90,593 | 14,100 | |||||||||||
| IntoUniversity | 1118525 | 1,500,000 | ||||||||||||
| Loth Helmsdale Flower Show Society |
SC029615 | 2,000 | 2,000 | |||||||||||
| Missing Salmon Alliance |
150,000 | |||||||||||||
| NMITE | 1176550 | 3,094,945 | 50,000 | |||||||||||
| Sutherland Schools Pipe Band, Golspie |
SC015660 | 8,000 | 8,000 | |||||||||||
| St Michael's Hospice |
511179 | 10,000 | 20,000 | |||||||||||
| The PCC of Hentland and Hoarwithy |
38,522 | |||||||||||||
| The Special Air Service Regimental | Association | 254393 | 15,000 | 15,000 | ||||||||||
| Wildfowl 8Wetlands Trust |
1030884 | 1,440,000 | 15,000 | |||||||||||
| Wye 8 USK Foundation | 1080319 | 10,000 | 10,000 | |||||||||||
| Alzheimer's Research Trust |
1077089 | 15,000 | ||||||||||||
| ABF —The Soldiers' Charity | 1146420 | 10,000 | ||||||||||||
| ASPIRE | 1075317 | 5,000 | ||||||||||||
| Asthma UK |
802364 | 10,000 | ||||||||||||
| BEAT | 801343 | 10,000 | ||||||||||||
| British Diabetic Association | 215199 | 10,000 | ||||||||||||
| British Heart Foundation | 225971 | 10,000 | ||||||||||||
| British Liver Trust | 298858 | 10,000 | ||||||||||||
| British Red Cross | 220949 | 20,000 | ||||||||||||
| Brooke Hospital for Animals | 1085760 | 10,000 | ||||||||||||
| Canine Partners For Independence |
803680 | 20,000 | ||||||||||||
| Children's Hospice Association, Scotland |
SC019724 | 2,000 | ||||||||||||
| Carried Forward | 6,876,086 | 1,831,100 |
| FOR THE YEAR TO 31 D | FOR THE YEAR TO 31 D | FOR THE YEAR TO 31 D | ECEMBER 2020 | |||||
|---|---|---|---|---|---|---|---|---|
| 10. | CHARITABLE ACTIVITIES | (continued) | Registered | |||||
| Charity No. | 2020 | 2019 | ||||||
| UNITED KINGDOM | (continued) | 6 | 6 | |||||
| Brought Forward | 6,876,086 | 1,831,100 | ||||||
| ExtraCare Charitable | Trust | 327816 | 10,000 | |||||
| Institute ofCancer Research | 1095197 | 30,000 | ||||||
| Kildonan & Kinbrace |
Amenities | Association | SC026566 | 30,000 | ||||
| Macmillan Cancer Support |
261017 | 20,000 | ||||||
| Marie Curie | 207994 | 20,000 | ||||||
| Martha Trust | 1067885 | 10,000 | ||||||
| Motor Neurone Disease Association |
(MND) | 294354 | 10,000 | |||||
| National Trust for Scotland |
SC007410 | 10,000 | ||||||
| National Trust |
205846 | 10,000 | ||||||
| PDSA | 208217 | 10,000 | ||||||
| Perennial | 1155156 | 10,000 | ||||||
| Plantlife | 1059559 | 500 | ||||||
| Ross on Wye Choral | Society | 507112 | 8,000 | |||||
| Royal National College for the Blind |
1000388 | 5,000 | ||||||
| Royal National Lifeboat Institution |
209603 | 5,000 | ||||||
| Royal National Mission for Deep Sea Fishermen |
232822 | 10,000 | ||||||
| Society for the Welfare of Horses and Ponies | 266247 | 15,000 | ||||||
| SPANA | 209015 | 10,000 | ||||||
| StJohn the Baptist, | Eastnor | 50,000 | ||||||
| The Cure Parkinson's | Trust | 1111816 | 15,000 | |||||
| The Prince's Trust | 1079675 | 500,000 | ||||||
| The Royal Star & Garter Home | 210119 | 10,000 | ||||||
| The Salvation Army |
214779 | 15,000 | ||||||
| The Samaritans | 219432 | 15,000 | ||||||
| The St.John Ambulance | 1077265 | 15,000 | ||||||
| The Stroke Association | 211015 | 15,000 | ||||||
| The Sutton Trust | 1146244 | 2,500,000 | ||||||
| The War Memorials | Trust | 1062255 | 10,000 | |||||
| Versus Arthritis | 207711 | 10,000 | ||||||
| Woodlands Trust |
294344 | 10,000 | ||||||
| World Horse Welfare | 206658 | 10,000 | ||||||
| Less: | ||||||||
| Adjustments to prior |
year donations | (14,100) | (100,000) | |||||
| Discount factor 2% per annum | (45,447) | (74,783) | ||||||
| Total grants awarded | 6,816,539 | 5,054,817 | ||||||
| Governance Costs |
||||||||
| Accountancy, administrative |
and secretarial fees | 217,200 | 151,200 | |||||
| Audit fees | 14,400 | 14,400 | ||||||
| Trustees insurance fees | 1,880 | |||||||
| Legal fees | 7,652 | |||||||
| 233,480 | 173,252 | |||||||
| Total cost ofgrant | making | 9 | F 7,050,019 6 5,228,069 |
| SUMMARY OF TOTAL DONATIONS | SINCE INCEPTION | ON 5DECEMBER 1995 | |
|---|---|---|---|
| Period 5 December 1995to 31 December 2019 | 23,197,455 | ||
| Year to 31 December 2020 | 6,616,539 | ||
| 830,013,994 |
| 12. | FINANCIAL INSTRUMENTS |
Page | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| The carry amounts ofthe Trust's |
financial | instruments | are as | follows: | ||||
| Financial assets | ||||||||
| Measured at fair value through |
SOFA: | |||||||
| -Fixed asset quoted investments |
14 | 136,562,940 | 120,633,833 | |||||
| -Cash under management | 14 | 4,620,306 | 5,693,983 | |||||
| -Cash at bank and in hand | 15 | 9,942,858 | 7,562,970 | |||||
| -Measured at amortised costs |
15 | 806,255 | 31,543 | |||||
| Financial liabilities |
||||||||
| Measured at amortised cost |
||||||||
| -Creditors | 16 | 9,746,163 | 5,446,685 | |||||
| The net gains attributable to the Trust's |
financial | instruments | ||||||
| are summarised as follows: |
||||||||
| Income and expense | ||||||||
| Measured at fair value through |
SOFA: | |||||||
| -Net gains (including changes in fair value) |
14 | 17,770,791 | 15,957,219 |